I have been using this card for about 18 months and have had one problem after another with them holding funds for no reason, even after receiving verification from merchants that the funds had indeed been refunded.
True Examples (just over last 2 months):
Used PNC ATM in Wawa to withdrawal 500.00 (car was in shop, needed to pay them to get car out of shop)... ATM failed to dispense funds, but deduction was processed from my account. When I called Wiredplastic, they informed me that it would take 30 days for funds to be released and that I had to contact PNC. PNC refused to help stating that it is WiredPlastics responsibility to rectify the situation. This went on all day back and forth. They would not release my money back nor file a complaint with PNC until I threatened to contact a lawyer and pursue not only the 500.00 but money I would lose for shop storage fees and lost wages if I was not able to get to work while they held funds. They suddenly became agreeable and released the funds after a fax from myself with the ATM receipt which showed transaction had not been processed.
Used card at Lukoil for gas purchase of 30.00. Lukoil states card declined but 30.00 was deducted from my acct. WiredPlastic states that it is Lukoil's fault and even with verbal verification from Lukoil to date will still not release funds back to account.
On November 16 a representative with Virgin Mobile accidently processed my payment twice for 42.80. The mistake was refunded the same day and rectified on Virgin Mobile's end. To date, Wired Plastic with verbal and written confirmation will not release my funds back to my acct. Have had several three-way calls with both companies and have escalated situation to suporvisors on both ends and they still will not release funds. (never mind the sarcasm and poor customer service recieved from some of the reps spoken with at Wired plastic).
These are just 3 incidents within the past 2 months. They continue to explain to me that the terms and conditions state that it is possible for funds to be held for UP TO 30 DAYS. The following are excerpts from their actual "HOLD" rules from terms and conditions listed on their website:
* If you authorize a transaction and then fail to make a purchase of that item as planned, the approval may result in a hold for that amount of funds for up to thirty (30) days on normal transactions and up to ninety (90) days on car rental transactions.
* When you present your Card to a merchant, the merchant may obtain a preauthorization for the transaction. Examples of merchants that perform this preauthorization are hotels, car rental companies, restaurants, etc. A thirty (30) day hold will be placed on the value on the Card in the amount of the preauthorization request made by the merchant.
* If the merchant's preauthorization request varies from the amount of the transaction the merchant subsequently submits to the Visa system, settlement of the transaction may not remove the hold, which may remain on the Card until the hold days have expired. If your Card is subject to a hold, the value on the Card that is subject to a hold will not be available to you for withdrawal or other purposes, apart from the transaction that was the reason for the preauthorization hold.
None of the incidents I have listed would fall under these rules. These were not pre-auths nor were they "at the pump" or returns of merchandise at any retailer. They were all due to merchant or wiredplastic system failure of some sort or due to operator mistake. The terms are also written as "may be" or "if" or "possibly subject to" all referring to a "hold" status. I would like to know why this company really puts a "hold" on funds and why if due to no fault or doing of card holder do they still insist on holding these funds even after verbal and written confirmation from merchants involved?
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